Elliott waves analysis – We’re short towards 1.13063.

EURUSD – Up

Wave Analysis

During the previous trading day on Friday, Euro went above the resistance zone 1.14158-1.14495 but failed to sustain this break above, now that the price is below this zone, we expect nothing but a possible momentum to the lowerside. As long as the price remains below 1.14158, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the unfolding of an impulsive wave count and should break below below 1.13063 further to the lowerside with an ultimate target at 1.11.

Trade Recommendations:

We’re short towards 1.13063.

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